Cadiz (NASDAQ:CDZI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, December 5th.
Separately, B. Riley set a $18.00 target price on shares of Cadiz and gave the company a “buy” rating in a research report on Monday, October 16th.
Cadiz (CDZI) traded down $0.02 during midday trading on Tuesday, reaching $13.90. 48,800 shares of the company were exchanged, compared to its average volume of 148,597. The firm has a market capitalization of $316.95, a P/E ratio of -9.08 and a beta of 0.39. Cadiz has a 52 week low of $9.65 and a 52 week high of $16.25. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of -1.76.
A number of hedge funds and other institutional investors have recently bought and sold shares of CDZI. Wolverine Trading LLC raised its position in shares of Cadiz by 192.6% in the third quarter. Wolverine Trading LLC now owns 10,614 shares of the company’s stock worth $135,000 after acquiring an additional 22,079 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cadiz in the second quarter worth about $142,000. Nationwide Fund Advisors acquired a new position in shares of Cadiz in the second quarter worth about $157,000. Ironsides Asset Advisors LLC acquired a new position in shares of Cadiz in the second quarter worth about $171,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Cadiz by 14,936.8% in the second quarter. The Manufacturers Life Insurance Company now owns 18,796 shares of the company’s stock worth $254,000 after acquiring an additional 18,671 shares during the period. Institutional investors own 49.09% of the company’s stock.
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Cadiz Inc is a land and water resource development company. As of December 31, 2016, the Company had 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture.
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